"There is a possibility of withdrawing the gazette", said a source in regular discussion with Sirisena, referring to the official announcement by which the president dissolved parliament.
Sri Lanka's top court stayed the dissolution order pending a hearing on its constitutionality that starts on Tuesday, allowing parliament to resume meeting.
President Maithripala Sirisena sacked Wickremesinghe and replaced him with Mahinda Rajapakse, the larger-than-life former president credited with ending Sri Lanka's bloody civil war with Tamil separatists in 2009. "We are preparing papers to go to the Supreme Court first thing in the morning tomorrow".
Rajapakse urged his supporters on Monday night to remain calm and join his struggle to press for a general election almost two years ahead of schedule.
Sri Lanka President says will end the political crisis in seven days Tue, Dec 4, 2018, 09:48 pm SL Time, ColomboPage News Desk, Sri Lanka.
A second source in Sirisena's party said the president was looking for a "dignified exit" by withdrawing the dissolution order as the court was unlikely to rule in his favour.
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However, with Wickremesinghe's supporters still controlling a majority in Parliament, which has witnessed brawls between MPs in recent weeks, Rajapakse has lost two votes of confidence.
However, the President once again stressed that he will not reappoint the ousted Prime Minister Ranil Wickremesinghe even if all the parliamentarians in the Parliament supports him.
The crisis deepened on Friday when parliament voted to halt payment of ministers' salaries - a move to pressure the disputed government of Rajapaksa.
The court set the hearing of the case for December 12 and 13.
Wickremesinghe said that if everyone wants an early election there is no need for the UNF to oppose it. When Sirisena tried to dissolve the assembly in retaliation, it was temporarily blocked by the country's supreme court. Sirisena had complained about sharp political differences with Wickremesinghe.
Rajapakse loyalists have since boycotted the legislature, accusing the speaker of bias.